High-End Senior Housing Coming to Brooklyn Heights
The $330-million redevelopment of 21 Clark St. by Watermark Retirement Communities and partner Kayne Anderson Real Estate is proceeding on schedule for an early 2020 opening.
Reportedly Brooklyn’s first high-end senior housing community, the Watermark at Brooklyn Heights is a conversion of the historic Leverich Towers Hotel, which later served as Jehovah’s Witnesses residences.
“Urban senior housing properties are an attractive alternative real estate investment segment within a rapidly growing market,” said Kayne Anderson Real Estate CEO Al Rabil. “We are proud to lead this market sector nationally with our partner, Watermark.”
The building’s 275 apartments will include 29 for independent living, 204 for assisted living and 42 for memory care. It will also include 50,000 square feet of amenity spaces.
The Watermark project team also includes development partner, minority owner and construction owner’s representative Tishman Speyer; architect Montroy DeMarco Architecture; interior designer Lemay+Escobar; and contractor Hudson Meridian.
Source: Connect New York
Kayne Anderson Real Estate and Watermark Retirement Communities' senior housing project in Brooklyn is slated to open in March 2020. The private equity real estate firm joined forces with the Tucson-based senior housing operator to create a 275-bed retirement...
Renovation work is progressing on the Watermark at Brooklyn Heights at 21 Clark Street. Developed in collaboration by Watermark Retirement Communities and Kayne Anderson Real Estate, the project will debut as senior housing with 275 newly renovated residences. Located...
A Brooklyn Heights Watchtower property that was previously a swanky hotel where the top-paid Brooklyn Dodgers stayed is being turned into high-end seniors housing. Construction work is 75 percent finished at The Towers at 21 Clark St. Formerly owned by the...